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Author Question: Rent seeking ________. A) increases consumer surplus B) occurs only when the firm practices ... (Read 56 times)

Hungry!

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on: Jun 29, 2018
Rent seeking ________.
 
  A) increases consumer surplus
  B) occurs only when the firm practices perfect price discrimination
  C) increases deadweight loss
  D) results in a larger output than a competitive industry would produce

Question 2

When the consumer is at his or her best affordable consumption point, it is the case that the marginal rate of substitution is
 
  A) greater than the price ratio.
  B) equal to the price ratio.
  C) less than the price ratio.
  D) maximized.


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popopong

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


Hungry!

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ricroger

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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